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Inside this issue
Fiat CEO Marchionne Says Chrysler IPO Would Delay Merger
GM Unveils More Powerful, Fuel-Efficient Large SUVs for 2015
Used-Vehicle Prices Remain Steady Through August
Kia Motors Reaches Wage Pact With Union Workers to End Strikes
FTC Launches Investigation of Dealers That Opposed TrueCar
Frankfurt Auto Show [Opened] This Week with 70 World Premieres
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Fiat CEO Marchionne Says Chrysler IPO Would Delay Merger

Fiat SpA Chief Executive Officer Sergio Marchionne said his efforts to merge the Italian automaker with Chrysler Group LLC may have hit a snag as a retiree health-care trust that owns a minority stake pushes instead for an initial public offering of the American carmaker. The United Auto Workers' trust may try to sell part of its 41.5 percent holding through an IPO by the first quarter, Marchionne, who runs both automakers, told reporters at an event in Turin. Fiat then may buy the trust's holding at the market price, he said. “The dialog is going on; we are not getting closer but we keep on talking,” Marchionne said. An eventual share sale at Chrysler “may delay” the merger. The CEO, 61, said Chrysler will file IPO documents by the end of the month with the U.S. Securities and Exchange Commission to list a 16.6 percent stake, which the trust has the legal right to do. The two are also in a court dispute over the value of part of the trust holding which Fiat has options to buy.
Source: Bloomberg
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GM Unveils More Powerful, Fuel-Efficient Large SUVs for 2015

General Motors Co. wants to grow its commanding 74 percent market share in the highly profitable full-size utility market as it rolls out new 2015 models in the first quarter next year that are quieter, more powerful and fuel-efficient and feature seats in the second and third rows that fold flat. The Detroit automaker held reveals Thursday in New York City and in Los Angeles and later at an event in Dallas to show off the redesigned 2015 Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon and GMC Yukon XL. The large SUVs were last redesigned as 2007 models. Higher gas prices and growing popularity of three-row crossovers have led the segment's size to drop to an expected 250,000 to 275,000 sales this year, representing about 1.6 percent of the industry — a stable percentage GM is counting on going forward. That's down from about 5 percent of industry sales or 600,000 sales a year in the early 2000s.
Source: The Detroit News
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Used-Vehicle Prices Remain Steady Through August

The same factors causing a surge in new-vehicle sales – pent-up demand, low interest rates and heated competition among lenders eager to grow their loan portfolios – are having a similar effect in the used-vehicle market, according to the NADA Used Car Guide. “Consumer demand for used cars and light trucks has kept growing this year, which has continued to fuel strong prices for used vehicles,” says Jonathan Banks, executive automotive analyst for the NADA Used Car Guide, in the September edition of Guidelines, a monthly report on new- and used-vehicle sales trends and used-vehicle price movement. Used-vehicle prices have remained at a historically high level through the first eight months of the year. Vehicles up to eight years in age carried a mix- and seasonally-adjusted average price of $15,113, a figure up slightly higher than 2012’s average and $463 higher than 2011’s average.
Source: NADAFrontPage.com
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Kia Motors Reaches Wage Pact With Union Workers to End Strikes

Kia Motors Corp.'s union workers in South Korea approved a wage agreement that ends a three-week strike that cost the company an estimated 414 billion won ($381 million) in lost production. A Sept. 12 agreement between labor representatives and Kia to raise the monthly base salary by 97,000 won was approved in a vote today by the company's 34,000 guild members, according to a mobile-phone text message from the union. The accord ends a walkout that the company estimates cost 23,271 vehicles in lost production as of Sept. 11, Kia said in an e-mail. The company, together with biggest shareholder Hyundai Motor Co., is grappling with increased competition as a weaker yen gives Japanese carmakers an edge in the U.S.
Source: Bloomberg
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FTC Launches Investigation of Dealers That Opposed TrueCar

The Federal Trade Commission is investigating whether dealers colluded to hurt TrueCar Inc. in 2011 and 2012 over vehicle price competition fostered by the online shopping site. In a letter to dealers, the FTC said it is investigating whether some companies in the "retail automobile industry" committed anticompetitive acts "by agreeing to refuse to deal with TrueCar."
Source: Automotive News
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Frankfurt Auto Show [Opened] This Week with 70 World Premieres

The world's automakers are showing off their shiniest, most advanced vehicles at the Frankfurt Auto Show, which [opened] this week. Among the 70 world premieres are a notable number of new cars powered either by batteries or hybrid gas-electric systems. There are also outlandish concept cars that flaunt technology and design but aren't intended for sale. The show, held every other year, attracted 928,000 visitors back in 2011.
Source: The Detroit News
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Quotable
"This is an important and profitable segment and we have set the bar high to ensure we provide our customers with great quality and performance they expect and deserve."

    -- GM Chief Financial Officer Dan Ammann, commenting on the automaker's plan to grow its marketshare in the full-size utility market, The Detroit News, Sept. 12
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(All webinars begin at 1 p.m. ET. Click webinar title to register.) 

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